Deal reportedly in the works to get construction moving on Crossroads Village

There's new life for a dead mall.

Deal reportedly in the works to get construction moving on Crossroads Village

There's new life for a dead mall.

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Updated: 10:11 PM CDT May 23, 2016

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WEBVTT DAVE ROBERTS HAS THE STORY. DAVI NEGOTIATIONS BETWEEN THE DEVELOPER AND THE CITY HIT A CROSSROADS, THE FUTURE OF THE SINKING SHOPPING CENTER WAS UNCLEAR. IT APPEARS A DEAL IS IN THE WORKS TO GET DEMOLITION MOVING ON SEPTEMBER 1. >> I THINK IT IS AN IMPORTANT COMMERCIAL SITE. DAVID: NOT MUCH TO LOOK AT WHAT THE COUNCILMAN SEES EVERY TIME HE DRIVES BY THE DETERIORATING MALL IS DELAYED OPPORTUNITY. >> THERE HAVE BEEN A LOT OF NEGOTIATIONS. DAVID: IN THIS LETTER, THE CITY ATTORNEY WROTE THE DEVELOPER REGARDING TENTATIVELY ACCEPTED SAFETY INCENTIVES. $40 MILLION IN TIF AND A 1.95% OCCUPATION TAX ON ALL SALES GENERATED WITHIN THE VILLAGE FOR 20 YEARS. 2% MORE IN SALES TAX ON EVERY PURCHASE. WE PRESENTED THE PROPOSAL TO THE PUBLIC WHO DID NOT SEEM TO MIND THE HIGHER PRICES. WHY DRIVE SOMEWHERE ELSE FOR SOMETHING YOU DO NOT WANT. STAY IN THE AREA YOU LOVE. IT WOULD DEPEND ON THE STORES. IF IT WAS A STORE THAT WAS NOWHERE ELSE IN THE CITY AND SOMETHING I WANTED I WOULD GO THERE. DAVID: THE CITY ALSO AGREES TO IMPROVE THE AREA'S INFRASTRUCTURE AT A PRICE TAG OF TO EXPLAIN $5 MILLION. TO GET THE DEAL, DEMOLITION MUST BEGIN ON SEPTEMBER 1. >> WE HOPE THIS IS OUR CHANCE. WE WANT TO SEE THE DETAILS. DAVI THE MAYOR'S OFFICE TELLS US THE LETTER DOES NOT REPRESENT A DEAL. IT IS AN OUTLINE OF THE INCENTIVES THE CITY IS PROPOSING. IF HE WANTS TO MAKE THIS A DEAL, HE HAS TO RESPOND BY JUNE 27. THE CITY SAYS HE HAS NOT RESPONDED YET.

Deal reportedly in the works to get construction moving on Crossroads Village